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Budget Vocab

TermDefinition
Zero-based budget Having each item justified on the basis of cost or need.
Fixed Expenses Cost the same amount on a routine basis.
Variable Expenses A corporate expense that changes in proportion to how much a company produces or sells.
Income Money received, especially on a regular basis, for work or through investments.
Need Expenditures that are essential for you to be able to live and work.
Want Expenses that help you live more comfortably.
Disposable Income Disposable income is total personal income minus current income taxes.
Financial Plan A comprehensive evaluation of an individual's current pay and future financial state by using current known variables to predict future income, asset values and withdrawal plans.
Assets Any resource owned or controlled by a business or an economic entity.
Liabilities Debts or obligations a person or company owes to someone else.
Net Worth Your assets minus your liabilities.
Capital Cash or liquid assets being held or obtained for expenditures.
Surplus The amount of an asset or resource that exceeds the portion that's actively utilized.
Budget An approved plan to spend a certain amount of money in a given fiscal year or project period.
Created by: BlepBlep8876
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